Tel aviv, Israel, September 17th, 2024, Chainwire

COTI Launches Its L2 Testnet With Broad Ecosystem Support Including MEW and AnChain

Confidential Layer 2 COTI has launched its testnet with a dozen ecosystem partners in place. MyEtherWallet (MEW) and AnChain are among the partners providing support for COTI’s scalable EVM network that aims to deliver affordable privacy solutions to web3. 

COTI’s privacy chain has attracted partnerships from a broad spectrum of blockchain sectors including projects operating on the frontlines of DeFi, AI, Security and Compliance, NFTs, and Real World Assets. The diverse ecosystem partners supporting COTI’s testnet and subsequent mainnet launch underscore the recognition of privacy as a critical component in the evolution of blockchain technology.

The launch of COTI’s testnet enables developers to explore the network’s features and novel technology based on Garbled Circuits. Developed in collaboration with Soda Labs, COTI’s Garbled Circuits implementation enables parties to jointly compute functions over private inputs without revealing those inputs. To accompany the launch of its testnet, COTI has published benchmarking results that support its claim to be significantly faster and lighter than incumbent privacy solutions.

COTI CEO Shahaf Bar-Geffen said: “The response to our testnet launch has been astounding, with projects and developers from various sectors across web3 joining our community to build a private blockchain future.”

Kosala Hemachandra, CEO and Founder of MyEtherWallet, commented: “We are excited to collaborate to provide COTI with user-friendly products that are open source and privacy-centric.”

The testnet launch provides developers interested in building on the scalable L2 with a range of tools including a testnet explorer and faucet to fuel experiments with COTI’s technology. Testnet SDK support enables developers to seamlessly integrate COTI features into apps.

The ability to process confidential transactions at scale and deliver affordable and secure MPC will unlock possibilities for blockchain applications that were previously unavailable or inaccessible due to cost limitations. Through pioneering new encryption capabilities, COTI will empower innovation in the realms of confidential DeFi, quantum resistant privacy, confidential data sovereignty and more.

About COTI

The COTI Network is the fastest and lightest confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces the most advanced and compliant solution for data protection on the public blockchain. Paving the way for the next wave of Web3 innovation and adoption, COTI unlocks a whole new world of use cases, including confidential transactions, Artificial Intelligence, DeFi, decentralized identification, and more.

Learn more: https://www.coti.io/